MEDIUM
Bihar Cooperative Bank Assistant Mains
IMPORTANT
Earn 100

Gurudeva, an illiterate customer in your branch, who is maintaining a savings account, requests you permit him to authorise his friend Bhisham to operate his account:

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Important Questions on Banking Law and Practice

MEDIUM
Bihar Cooperative Bank Assistant Mains
IMPORTANT
Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 1
Corporate Bank had opened a saving bank account in the name of Mr. D. Singh and S. Singh operated as 'former or survivor'. The wife of D. Singh who is a nominee in the account comes to your branch and informs you that D.Singh has expired a month back. She also hands over the death certificate and requests for payment of the balance.
HARD
Bihar Cooperative Bank Assistant Mains
IMPORTANT
Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 2

X has a joint 'former or survivor's' account XY with his wife Y. X has an overdraft account, where he is not paying dues. Can you exercise a right of set-off as a banker?

HARD
Bihar Cooperative Bank Assistant Mains
IMPORTANT
Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 3
In a joint account (of two persons) payable to either or survivor, on the death of one of an account holder, the survivor obtains the balance for the legal heirs.
MEDIUM
Bihar Cooperative Bank Assistant Mains
IMPORTANT
Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 4
There is an either-or survivor FDR of A and B but A dies before its maturity. B also dies one week after his death before maturity. FD amount is payable to:
HARD
Bihar Cooperative Bank Assistant Mains
IMPORTANT
Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 5
Mr. Dharam Singh and Mr. Karam Singh are maintaining a current account in 'former survivor' operations. Mr. Karam Singh (illiterate) issues a notice to the bank that the operations in the account should be stopped as there is some dispute between both of them. He also mentions that the money in the account belongs to him but for operational convenience, the power to operate the account was given in favour of Dharam Singh. what would you do with the cheque (signed by Mr. Dharam Singh for Rs. 670 favouring LIC of India) which has been presented through clearing, for the payment from this account?
EASY
Bihar Cooperative Bank Assistant Mains
IMPORTANT
Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 6
MK and his wife Devi are maintaining an either-or survivor-operated SB account with your branch with a substantial balance. A son of MK from his previous wife informs you that MK has expired. He submits a copy of the death certificate and makes a request that the bank should deal with the account on a joint basis and should stop the payment of operations. A cheque of Rs. 1 lac is presented in the meantime by Devi in favor of LIC of India being the premium in her name. How would the bank deal with the cheque?
MEDIUM
Bihar Cooperative Bank Assistant Mains
IMPORTANT
Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 7
A and B have a joint current account. They have deposited a sealed box for safe custody:
EASY
Bihar Cooperative Bank Assistant Mains
IMPORTANT
Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 8
A and B maintain a joint current account at your branch. They request you to send a copy of the statement of account to each of them. The bank: